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Gold and silver at new highs

LONDON: Gold, an all-season investment option, surged to record levels of $962.67 an ounce and silver to 27-year high of $19.36 an ounce in the global bullion markets on Wednesday, as crude oil prices rose to an all-time high and the U.S. dollar fell to unseen low against euro.

The rally in gold was moving closer to analysts’ prediction of over $1,000 an ounce in the overseas market this year.

The yellow metal traded at Rs. 12,345, up Rs. 295 in Mumbai. — PTI

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